Phones Canada is excited to share the latest insights on the global foldable phone market from research firm TrendForce. According to their forecast, the growth in foldable phone shipments is expected to slow down this year to 11%, a significant drop from last year’s 25% growth rate.

Here are some key highlights from the report:

– In 2023, 15.9 million foldable phones were delivered, accounting for 1.4% of overall worldwide smartphone shipments.
– TrendForce predicts that foldable phone shipments will increase to 17.7 million units in 2024, capturing 1.5% of the market share.
– By 2025, foldables are projected to make up 2% of industry shipments.

The report attributes the slowdown in foldable phone shipments to two main factors:

1. Consumer retention is low due to maintenance issues experienced by first-time owners, leading to a lack of confidence in foldables.
2. Pricing of these phones has not yet reached the sweet spot for consumers, but mass production of key components and increased competition among panel suppliers could help drive prices down.

Despite challenges, Samsung remains the leader in the foldable market with a market share of 70% in 2023. Huawei also holds a significant share at 12%, outperforming domestic rivals like Xiaomi, Oppo, and Vivo.

Looking ahead, TrendForce expects Samsung to maintain its lead with 60.4% market share this year. Huawei is making aggressive moves with its quad-camera Pocket 2 clamshell and aims to capture 19.8% of the market share.

Exciting developments like tri-fold foldables from both Samsung and Huawei could give the foldable market a boost in the near future. Stay tuned for more updates on this evolving technology trend!